European stocks were mixed after a survey showed German economic sentiment dropped sharply this month.

The ZEW Center for European Economic Research's index for measuring investor and analyst expectations for Germany's economy fell to 33.1 in May from 43.2 the previous month, trailing estimates of 40.

"The fifth consecutive decline in ZEW investor sentiment in May suggests that the German economic recovery might not gain much pace from here," Capital Economics said.

The euro fell 0.27% to $1.3720 following the release.

Elsewhere in Germany, the nation's central bank is reportedly willing to back an array of stimulus measures from the European Central Bank (ECB) next month, including a negative rate on bank deposits and purchases of packaged bank loans if needed to fight weak inflation.

A person familiar with the matter told The Wall Street Journal that the ECB staff inflation expectations for 2016, due in early June, will be key to the Bundesbank's appetite for further monetary easing.

ECB President Mario Draghi last week indicated that additional easing was possible given the low annual inflation of 0.7% which is well below the monetary authority's 2% target.

The EU extended sanctions to include two Crimean companies and 13 individuals connected with the unrest in Ukraine.

"We are sorry to see the sanctions express steaming downhill as if the driver wasn't there. I mean their [EU's] policy is absolutely feckless, irresponsible and out of touch with reality," Ryabkov said today, according to Russian state media website Ria Novosti.

NATO Deputy Secretary General Alexander Vershbow said he believes Russia is trying to push its will onto countries in Eurasia. Speaking at the Moldova State University today, he added that "all countries must have the right to choose their own political and security destinies".

His remarks came as Donetsk and Luhansk backed a plan to separate from Ukraine. The region's republic have now started negotiations on unification, spokesman for the Donetsk People's Republic told RIA Novosti today.

Airbus rallies after first quarter results

Airbus advanced after the French plane-maker reported first-quarter earnings that beat analysts' estimates.

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